TVDBNEURO: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
TVDBNEURO
Largest movements
- Current investments -€99,776
down €99,776 (-99.8%), from €100,000 to €224
- Receivables after one year -€36,000
no longer reported in 2025 (was €36,000)
- Cash +€18,561
up €18,561 (+55.5%), from €33,436 to €51,997
mainly Net result for the year (+€101,676) and Current investments (+€99,776)
- Deferred charges and accrued income -€9,965
down €9,965 (-39.9%), from €24,979 to €15,014
- Receivables within one year -€4,365
down €4,365 (-37.5%), from €11,629 to €7,265
of which Other amounts receivable: -€2,959
- Reserves -€212,559
down €212,559 (-99.2%), from €214,235 to €1,676
- Other debts +€85,746
up €85,746 (+10,294%), from €833 to €86,579
- Tax, wage and social debts -€5,528
no longer reported in 2025 (was €5,528)
- Gross operating margin -€8,627
down €8,627 (-6.1%), from €140,949 to €132,322
- Depreciation +€2,296
up €2,296 (+90.4%), from €2,540 to €4,836
- Taxes -€2,188
down €2,188 (-7.2%), from €30,528 to €28,340
- Financial income +€1,723
up €1,723 (+158%), from €1,091 to €2,814
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €224,930 | €92,464 | -€132,466 | -58.9% |
| Fixed assets | 21/28 | €18,885 | €17,964 | -€922 | -4.9% |
| Tangible fixed assets | 22/27 | €18,885 | €17,964 | -€922 | -4.9% |
| Furniture and vehicles | 24 | €18,885 | €17,964 | -€922 | -4.9% |
| Current assets | 29/58 | €206,044 | €74,500 | -€131,544 | -63.8% |
| Amounts receivable after more than one year | 29 | €36,000 | - | -€36,000 | |
| Other amounts receivable | 291 | €36,000 | - | -€36,000 | |
| Amounts receivable within one year | 40/41 | €11,629 | €7,265 | -€4,365 | -37.5% |
| Trade receivables | 40 | €1,406 | - | -€1,406 | |
| Other amounts receivable | 41 | €10,223 | €7,265 | -€2,959 | -28.9% |
| Current investments | 50/53 | €100,000 | €224 | -€99,776 | -99.8% |
| Cash at bank and in hand | 54/58 | €33,436 | €51,997 | +€18,561 | +55.5% |
| Deferred charges and accrued income | 490/1 | €24,979 | €15,014 | -€9,965 | -39.9% |
| Total equity and liabilities | 10/49 | €224,930 | €92,464 | -€132,466 | -58.9% |
| Equity | 10/15 | €217,235 | €4,676 | -€212,559 | -97.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €214,235 | €1,676 | -€212,559 | -99.2% |
| Distributable reserves | 133 | €214,235 | €1,676 | -€212,559 | -99.2% |
| Amounts payable | 17/49 | €7,695 | €87,788 | +€80,094 | +1,041% |
| Amounts payable within one year | 42/48 | €7,695 | €87,788 | +€80,094 | +1,041% |
| Financial debts | 43 | €878 | - | -€878 | |
| Credit institutions | 430/8 | €878 | - | -€878 | |
| Trade debts | 44 | €456 | €1,209 | +€753 | +165% |
| Suppliers | 440/4 | €456 | €1,209 | +€753 | +165% |
| Taxes, remuneration and social security | 45 | €5,528 | - | -€5,528 | |
| Taxes | 450/3 | €5,528 | - | -€5,528 | |
| Other amounts payable | 47/48 | €833 | €86,579 | +€85,746 | +10,294% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,540 | €4,836 | +€2,296 | +90.4% |
| Other operating charges | 640/8 | €204 | €170 | -€34 | -16.6% |
| Gross operating margin | 9900 | €140,949 | €132,322 | -€8,627 | -6.1% |
| Operating profit (loss) | 9901 | €138,205 | €127,316 | -€10,889 | -7.9% |
| Financial income | 75/76B | €1,091 | €2,814 | +€1,723 | +158% |
| Recurring financial income | 75 | €1,091 | €2,814 | +€1,723 | +158% |
| Financial charges | 65/66B | €70 | €114 | +€44 | +63.2% |
| Recurring financial charges | 65 | €70 | €114 | +€44 | +63.2% |
| Profit (loss) for the period before taxes | 9903 | €139,226 | €130,016 | -€9,210 | -6.6% |
| Income taxes | 67/77 | €30,528 | €28,340 | -€2,188 | -7.2% |
| Profit (loss) for the period | 9904 | €108,698 | €101,676 | -€7,022 | -6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €108,698 | €101,676 | -€7,022 | -6.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.